TechCrunch has just received confirmation that Condé Nast (owns Wired) has acquired Reddit earlier this morning (announcement later today). The price is not being disclosed.

All four reddit employees will relocate from Boston to Wired’s San Francisco office and become part of Wired Digital. Reddit, founded and funded in 2005, is YCombinator hatched (just like another favorite site of mine, Snipshot).

Reddit is a social news site that has always been second place compared to Digg’s popularity, although Reddit does have many active and loyal users. Like Digg, news stories on Reddit are submitted by users, and other users vote up or down on the story. When it gets enought “up” votes, the story appears on the home page.

Wired will leave Reddit as a standalone site, and also integrate it into Condé Nast web properties.